| Topic : NIFTY TRADING SYSTEM - AAKSHARSROCK.COM |
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last activity : 04 25 2012 06:54:52 +0000
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A consortium of private equity firms Apax Partner and iGate are close to buying 63 per cent of Patni Computers in a deal valued at about $915 million, a source with direct knowledge of the matter told Reuters.
The Apax-iGate consortium has offered about 500 rupees a share for the stake, the source said, adding that a deal would likely be announced early next week.
The consortium, which beat a rival team of Carlyle, Advent International and Akansa Capital to the deal, will make an open offer for another 20 per cent stake in Patni following the agreement, the source said.
The iGate-Apax consortium is taking a loan of about $500 million to fund the deal, the source said.
Patni could not be reached for immediate comment.
The founding Patni brothers are selling their 46 per cent stake while private equity firm General Atlantic is selling its roughly 17 percent holding in the software services exporter, sources have previously said.
Read more: iGate, Apax close to buy 63% of Patni Computers - The Times of India http://timesofindia.indiatimes.com/tech/news/software-services/iGate-Apax-close-to-buy-63-of-Patni-Computers/articleshow/7172726.cms#ixzz19JiClMbu
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